The Edge for Active Investors
Profit Source is proud to offer a simple, user-friendly quote submission system which allows your dealership to offer Extended Warranties directly through our WholesaleWarranties.com affiliates. All you need to do is click the appropriate column on the left side of this page, and fill out the proper information. From there, we will be happy to take over the sale of the Warranty, offering you and your customer a cost-effective and worthwhile service.
Want to offer RVExtended Warranties and other products directly?
Profit Source is dedicated to increasing the profitability of your dealership, bringing you products that enhance the vehicle sale, add to your client’s peace of mind, and easily increase revenue on every deal! We would be happy to help you incorporate the following services into your dealership:
- Vehicle Service Contracts (VSC) – Profit Source is proud to offer an extensive list of VSC’s with a wide range of coverage options for almost any type of vehicle. Our agency is dedicated to understanding the needs of your customers, and your dealership in order to provide you with the best VSC package available.
- GAP Insurance – Just bought a new Vehicle? What if an accident occurred soon after taking your brand new ride off the lot? You have full coverage insurance, right? Unfortunately, this may not be the case.
When you drive your new car off the lot the value of your vehicle plummets, sometimes as much as 20%-30%. For instance, if you pay $25,000 for your new vehicle and have an accident only one month later, you have made—at most—one payment. If you didn’t put any money down, your loan amount is still close to the $25,000 purchase price. Sadly, even with full coverage insurance, which includes comprehensive and collision, you will only receive the market value of your vehicle which could be as much as 20%-30% lower than the purchase price. That means you may be stuck paying that 20%-30%. On a $25,000 car, just a 20% depreciation would be $5,000! And that amount could be even more if you financed your taxes and license into your loan.
GAP stands for Guaranteed Auto Protection. Most people simply refer to this by using the term GAP, which also represents the gap in coverage between how much one owes on a car, and how much the car is worth. GAP insurance is highly recommended in almost all cases, and comes at a relatively low cost, so it would be a very valuable service to add to your dealership’s repertoire.
- Tire and Wheel Protection: Protect your customers tires and wheels against Road Hazards. With this service, your customer will be reimbursed for the full amount of charges incurred for the repair of flat tires caused by road hazards, including;
- Tire Replacement: Reimbursement is provided should the tire become non-repairable due to impact leads, snags, cuts, punctures, or other road hazards.
- Wheel/Rim Protection: Reimbursement is provided for expenses arising out of the repair or replacement of wheels rendered unserviceable due to failure of the wheel covered under your contract.
- Mounting/Balance and Taxes: Reimbursement is provided for any tire covered by your agreement. We will absorb the cost of all local and state taxes, where applicable, as required as part of a covered repair.
Credit Life and Disability
- Credit Life – This product is basically life insurance that covers the outstanding loan balance at the moment of your untimely death. The borrower is allowed to name a beneficiary at the time of signing the paperwork. If for any reason during the loan’s duration you were to pass away, that loan would be paid in full and the beneficiary would receive a free and clear title to the vehicle. Because there are very few restrictions to qualify for this insurance the program is available for the majority of your customers.
- 2) Credit Disability Insurance – This product is disability insurance that covers the amount of your auto loan payment if you were to become sick or injured and unable to work. Most of these policies have a 7 to 14 day elimination period. In the event that you become sick or injured and can’t work, the payments will be made to the lender on your behalf until you go back to work, or the loan is paid off, whichever comes first.
Offering protection from the expense of: dents, dings, and windshield damage.